Edison, NJ -- (SBWIRE) -- 12/02/2020 -- Latest added Engineering Insurance Market research study by AMA Research offers detailed outlook and elaborates market review till 2025. The market Study is segmented by key regions that are accelerating the mercerization. At present, the market players are strategizing and overcoming challenges of current scenario; The study explored is a perfect mix of qualitative and quantitative Market data collected and validated majorly through primary data and secondary sources.
Major Players in This Report Include,
Allianz (Germany), AXA (France), Nippon Life Insurance (Japan), American Intl. Group (United States), Aviva plc (United Kingdom), Assicurazioni Generali (Italy), Cardinal Health (United States), State Farm Insurance (United States), Dai-ichi Mutual Life Insurance (Japan), Munich Re Group (Germany), Zurich Financial Services (Switzerland), Prudential Financial (United States), Asahi Mutual Life Insurance (Japan), Sumitomo Life Insurance (Japan), MetLife (United States), Allstate (United States), Aegon (India), New York Life Insurance (United States), Meiji Life Insurance (Japan), Aetna (United States), CNP Assurances (France) and PingAn (China)
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Engineering insurance is meant to safeguard against unpredictable losses that may occurred during the construction activities of buildings and infrastructure as well as during plant's operation. Though, it represents only 3-4 % of total commercial insurance market but it has annual premiums of over USD 20 billion, and helps businesses in undertaking large construction projects which may be precarious otherwise. Currently, global engineering insurance market is witnessing surge owing to developments in commercial premium rates. United States witnessed rise in cost of insurance on construction related risk of late, and other countries including emerging ones are expected to witness the similar result during forecast duration, which in turn offer lucrative opportunity for engineering insurance providers to cash on.
Market Drivers
- Increasing Need to Absorb Unforeseen Losses During Construction and Operation of Plants
- Growing Construction and Operational Activities in Asia Pacific and Middle East Supported by China's Belt & Road Initiative
- Increasing Risk Exposures in Engineering Projects
Market Trend
- Growing Demand for Tailor-made Engineering Insurance
- Increasing Share by Project Related Policies in Engineering Insurance Market
- Utilization of Non-damaged Parametric Products to Cover New Risks in Engineering Insurance
Restraints
- Economic Slowdown in Emerging Countries
- Increasing Protectionism Leading to Trade War Thus, Curbing Investment Spending and Insurance Demand
Opportunities
- Emergence of New Technologies in Engineering Practices Resulting in Rise in Number of Risks
- Need for Robust Collaboration Between Insured and Insurers to Streamline Engineering Insurance Services
- Growing Investment in Renewable Energy Sources Amid Increasing Need to Meet Climate Change Target
Challenges
- Complex Nature of Engineering Insurance Practices Owing to Involvement of Multiple Parties
- Maintaining Underwriting Discipline Amid Increasing Competition in Engineering Insurance Market
The latest edition of this report you will be entitled to receive additional chapter / commentary on latest scenario, economic slowdown and COVID-19 impact on overall industry. Further it will also provide qualitative information about when industry could come back on track and what possible measures industry players are taking to deal with current situation. Each of the segment analysis table for forecast period also high % impact on growth.
This research is categorized differently considering the various aspects of this market. It also evaluates the upcoming situation by considering project pipelines of company, long term agreements to derive growth estimates. The forecast is analyzed based on the volume and revenue of this market. The tools used for analyzing the Engineering InsuranceMarket research report include SWOT analysis.
The Engineering Insurancesegments and Market Data Break Down are illuminated below:
Type (Project Insurance (Erection All Risks Insurance, Contractors All Risks Insurance, Contractor's Plant and Machinery Insurance), Operational Machineries Insurance (Machinery Breakdown Insurance, Boiler And Pressure Plant Insurance, Electronic Equipment Insurance, Civil Engineering Completed Risks Insurance and Deterioration Of Stocks Insurance), Business Interruption Insurance), Application (Production and Processing Enterprises, Oil and Gas, Power and Utilities, Heavy Industries, Transportation Systems, Heavy Civil Engineering Projects, Others)
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The regional analysis of Engineering InsuranceMarket is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading region across the world. Whereas, owing to rising no. of research activities in countries such as China, India, and Japan, Asia Pacific region is also expected to exhibit higher growth rate the forecast period 2020-2025.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Strategic Points Covered in Table of Content of Engineering Insurance Market:
Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Engineering Insurance market
Chapter 2: Exclusive Summary – the basic information of the Engineering Insurance Market.
Chapter 3: Displayingthe Market Dynamics- Drivers, Trends and Challenges of the Engineering Insurance
Chapter 4: Presenting the Engineering Insurance Market Factor Analysis Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Displaying the by Type, End User and Region 2014-2019
Chapter 6: Evaluating the leading manufacturers of the Engineering Insurance market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile
Chapter 7: To evaluate the market by segments, by countries and by manufacturers with revenue share and sales by key countries in these various regions.
Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source
finally, Engineering Insurance Market is a valuable source of guidance for individuals and companies.
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Key questions answered
- Who are the Leading key players and what are their Key Business plans in the Engineering Insurance market?
- What are the key concerns of the five forces analysis of the Engineering Insurance market?
- What are different prospects and threats faced by the dealers in the Engineering Insurance market?
- What are the strengths and weaknesses of the key vendors?
Definitively, this report will give you an unmistakable perspective on every single reality of the market without a need to allude to some other research report or an information source. Our report will give all of you the realities about the past, present, and eventual fate of the concerned Market.
Thanks for reading this article, we can also provide customized report as per company's specific needs. You can also get separate chapter wise or region wise report versions includingNorth America, Europe or Asia.